Home Repossessions Can Reach 175,000 By 2012posted on 5 August 2010 | posted in General Category | ( 0 ) CommentsAccording to an unpublished report, home repossessions in the UK could reach 175,000 by 2012. The report commissioned by the Department for Communities and Local Government, was compiled when the economy was in a much worse state than now. The Council of Mortgage Lenders says for this year, it’s predicting not more than 53,000 repossessions. If 53,000 homes are taken back this year, it means that more than 1,000 households a week will be affected. This further means thousands of people will be left homeless and this by no means is a small figure. This can add to debt problems and an obvious increase in people seeking debt help. This will only increase the numbers of people going bankrupt or entering into an individual voluntary arrangement (IVA). If you are behind with your home loan, remember that by taking measures now you can ensure that your home remains safe. One measure that you should immediately take is to seek debt advice. If you are worried about further costs, we will provide debt advice for free and it can throw light on the various debt solutions available that can help you get hold of your debt situation before it spirals out of control. Share this blog entry:
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